24 Jul 2018
Markets for You
Global Indices
Global Indices 23-Jul Prev_Day Abs. Change
% Change
Dow Jones 25,044 25,058 -14 -0.06
Nasdaq 7,842 7,820 22 0.28
FTSE 7,656 7,679 -23 -0.30
Nikkei 22,397 22,698 -301 -1.33
Hang Seng 28,256 28,224 32 0.11
Indian Indices 23-Jul Prev_Day Abs. Change
% Change
S&P BSE Sensex 36,719 36,496 222 0.61
Nifty 50 11,085 11,010 75 0.68
Nifty 100 11,307 11,216 91 0.81
Nifty Bank 27,008 26,873 135 0.50
SGX Nifty 11,114 11,026 88 0.79
S&P BSE Power 1,920 1,892 28 1.48
S&P BSE Small Cap 15,867 15,721 146 0.93
S&P BSE HC 13,760 13,661 98 0.72
Date P/E Div. Yield P/E Div. Yield
23-Jul 23.08 1.20 27.54 1.21
Month Ago 23.04 1.24 26.63 1.22
Year Ago 23.50 1.22 25.32 1.01
Nifty 50 Top 3 Gainers
Company 23-Jul Prev_Day
% Change
United Phos 632 550 15.01
Vedanta 212 202 4.55
Bharti Airtel 359 345 3.92
Nifty 50 Top 3 Losers Domestic News
Company 23-Jul Prev_Day
% Change
Hero Moto 3165 3377 -6.26
Bajaj Auto 2684 2840 -5.47
Wipro 276 283 -2.31
Advance Decline Ratio
Advances 1511 1093
Declines 1089 681
Unchanged 176 93
Institutional Flows (Equity)
Description (Cr)
FII Flows* -6568
MF Flows** 72228
Jul 2018; **16
Jul 2018
Economic Indicator
YoY(%) Current Year Ago
24 July 2018
Since May-17, MOSPI has revised base year of IIP & WPI from 2004-05 to 2011-12, and for CPI
from 2010 to 2012
Indian Equity Market
Indices Performance
P/E Dividend Yield
Quarter Ago
Indian Equity markets closed in the green following gains in FMCG stocks
post rate cuts by Goods and Service Tax (GST) council. According to the
media reports, the GST council has cut the rates for 88 items with effect
from Jul 27, 2018. Gains were extended after the ruling party won the no-
confidence motion in the Lok Sabha on Jul 20, 2018. However, weak
global cues on intensifying trade war concerns restricted the gains.
Key benchmark indices S&P BSE Sensex and Nifty 50 grew 0.61% and
0.68% to close at 36,718.60 and 11,084.75, respectively. S&P BSE Mid-Cap
and S&P BSE Small Cap grew 1.29% and 0.93%.
The overall market breadth on BSE was strong with 1,511 scrips
advancing and 1,089 scrips declining. A total of 176 scrips remained
On the BSE sectoral front, S&P BSE Telecom stood as the major gainer,
up 2.47% followed by S&P BSE FMCG that grew 2.29%. S&P BSE Basic
Materials and S&P BSE Realty grew 2.16% and 1.90%. S&P BSE Metal and
S&P BSE Power grew 1.62% and 1.48%. S&P BSE Energy stood as the only
loser, down 0.38%.
The Goods and Services Tax (GST) council met on July 21, 2018, and
reduced tax on various items to boost consumption. Tax on ethanol for oil
marketing companies reduced from 18% to 5%, consumer electronics
from 28% to 18%, 5% ceiling on footwear increased from Rs. 500 to Rs.
1000, all leather items cut from 28% to 18%, among others. The council
has simplified returns and approved quarterly returns for enterprises that
have turnover less than Rs. 5 crore. Tax payments, however, will continue
on a monthly basis.
According to media reports, the GST council’s decision to cut tax rates
on various items will hit the government’s revenues by Rs. 150 billion
each year. This could also lead to the government missing its budget
According to the market regulator, Securities Exchange Board of India
(SEBI), investments in domestic capital market through participatory notes
(P-notes) have significantly fell to more than nine-year low of Rs. 83,688
crore in Jun 2018 from Rs 93,497 crore in the end of May 2018. The
drastic reduction was due to stringent norms taken by SEBI to restrict
black money.
As per media reports, the commerce ministry is forming a strategy to
strengthen the shipment of chemicals, plastics and allied products sector
thereby pushing the growth of the country’s overall exports. The ministry
has formed a sub-group which will focus on the issues faced by the sector.
According to media reports, Global retail major Walmart will make use
of blockchain technology in procurement of farm and agricultural produce
in Uttar Pradesh. This would help in the validation of transactions and
efficient delivery management.
According to media reports, Federal Bank has got regulatory approval to
open offices in Bahrain, Kuwait and Singapore. However, Federal Bank is
awaiting local clearances before it commences operations.
According to media reports, revenue of L&T Technology Services in the
quarter ended Jun 2018 grew 9% on a quarterly basis to Rs. 1,152.2 crore.
Markets for You
Asian markets mostly traded in the red after the U.S. President hinted at
imposing tariffs on all Chinese goods and further stated that the European
Union (EU) and China are controlling their currencies to get more benefit
from global trade. Additionally, the G20 finance ministers warned of
increased risks to global economic growth. Bank of Japan is also expected
to change to its ultra-loose monetary policy.Today (as of Jul 24), Asian
markets opened higher following gains in the U.S. technology shares. Both
Nikkei and Hang Seng were trading up 0.36% and 0.51%, respectively (as
at 8.a.m. IST).
As per the last close, European markets closed lower as trade concerns
between the U.S. and China continued to weigh on the market. Weak
quarterly earnings from some major companies also added to the losses.
As per the last close, U.S markets closed almost following rise in
technology stocks as investors awaited quarterly results of some major
companies from the sector. However, unexpected drop in existing home
sales in Jun 2018 capped the gains.
FII Derivative Trade Statistics 23-Jul
(Rs Cr) Buy
Sell Open Int.
Index Futures 2110.62 3096.11 27514.72
Index Options 45250.38 45532.14 75856.08
Stock Futures 14875.28 14281.02 79759.03
Stock Options 10894.43 11221.69 8385.27
Total 73130.71 74130.96 191515.10
23-Jul Prev_Day
Put Call Ratio (OI) 1.80 1.71 0.09
Indian Debt Market
Put Call Ratio(Vol) 1.10 0.95 0.15
23-Jul Wk. Ago Mth. Ago
Year Ago
Call Rate 6.23% 6.18% 6.25% 6.10%
CBLO 6.33% 6.23% 5.39% 5.62%
Repo 6.25% 6.25% 6.25% 6.25%
Reverse Repo 6.00% 6.00% 6.00% 6.00%
91 Day T-Bill 6.60% 6.53% 6.45% 6.12%
364 Day T-Bill 7.21% 7.19% 7.05% 6.22%
10 Year Gilt 7.81% 7.80% 7.82% 6.44%
G-Sec Vol. (Rs.Cr) 23443 29694 29154 87997
Currency Market Update
FBIL MIBOR 6.31% 6.30% 6.31% 6.21%
3 Month CP Rate 7.75% 7.50% 7.58% 6.58%
5 Year Corp Bond 8.76% 8.76% 8.71% 7.39%
1 Month CD Rate 6.63% 6.54% 6.93% 6.21%
3 Month CD Rate 6.99% 7.01% 6.93% 6.25%
1 Year CD Rate 7.95% 7.98% 8.04% 6.52%
Commodity Market Update
Currency 23-Jul Prev_Day
USD/INR 68.70 68.85 -0.14
GBP/INR 90.28 89.67 0.61
EURO/INR 80.56 80.31 0.25
International News
JPY/INR 0.62 0.61 0.01
Commodity 23-Jul Wk Ago Mth. Ago
Year Ago
NYMEX Crude($/bl) 67.85 68.17 68.82 45.73
Brent Crude($/bl) 73.73 70.02 73.41 47.01
Gold( $/oz) 1224 1240 1268 1254
Gold(Rs./10 gm) 29948 30172 30484 28320
Source: Thomson Reuters Eikon
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
24 July 2018
The information herein is meant only for general reading purposes and contains all factual and statistical information pertaining to Industry and markets which have been obtained from independent
third party sources and which are deemed to be reliable. The information provided cannot be considered as guidelines, recommendations or as a professional guide for the readers. It may be noted
that since Reliance Nippon Life Asset Management Company Limited (RNLAM) (formerly Reliance Capital Asset Management Limited) has not independently verified the accuracy or authenticity of
such information or data, or for that matter the reasonableness of the assumptions upon which such data and information has been processed or arrive data; RNLAM does not in any manner assures
the accuracy or authenticity of such data and information. Some of the statements & assertions contained in these materials may reflect RNLAM’s views or opinions, which in turn may have been
formed on the basis of such data or information. The Sponsor(s), the Investment Manager, the Trustee or any of their respective directors, employees, affiliates or representatives do not assume any
responsibility for, or warrant the accuracy, completeness, adequacy and reliability of such data or information. Whilst no action has been solicited based upon the information provided herein, due
care has been taken to ensure that the facts are accurate and opinions given are fair and reasonable, to the extent possible. This information is not intended to be an offer or solicitation for the
purchase or sale of any financial product or instrument. Recipients of this information should rely on information/data arising out of their own investigations. Before making any investments, the
readers are advised to seek independent professional advice, verify the contents in order to arrive at an informed investment decision. None of the Sponsor(s), the Investment Manager, the Trustee,
their respective directors, employees, affiliates or representatives shall be liable in any way for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including on
account of lost profits arising from the information contained in this material.
Readers are requested to click here for ICRON disclaimer - http://www.icraonline.com/legal/standard-disclaimer.html
Derivative Statistics- Nifty Options
Derivatives Market
Debt Watch
Currency Market
Commodity Prices
Nifty July 2018 Futures were at 11,099.4, a premium of 14.65 points,
above the spot closing of 11,084.75. The turnover on NSE’s Futures and
Options segment went down to Rs. 6,85,818.85 crore on Jul 23 from Rs.
5,24,534.82 crore on Jul 20.
The Put-Call ratio stood at 0.88 against previous session’s close of 0.79.
The Nifty Put-Call ratio stood at 1.80 against the previous session’s
close of 1.71.
Open interest on Nifty Futures stood at 28.58 million as against the
previous session’s close at 27.99 million.
Bond yield rose as increase in crude oil prices triggered concerns of
higher inflation ahead as well monetary tightening.
Yield on the 10-year benchmark paper (7.17% GS 2028) went up 2 bps
to close at 7.81% as against its previous close of 7.79%. During the
session, bond yields traded in the range of 7.77% and 7.82%.
Banks’ borrowings under the repo window of the Liquidity Adjustment
Facility (LAF) stood at Rs. 22,359 crore (gross) on Jul 23, compared with
Rs. 16,381 crore (gross) borrowed on Jul 20. Sale of securities under the
Reserve Bank of India’s (RBI) reverse repo window stood at Rs. 11,456
crore on Jul 20.
Banks borrowed Rs. 2,982 crore under the central bank’s Marginal
Standing Facility on Jul 20 compared with borrowing of Rs. 73 crore on
Jul 19.
The rupee rose initially against the greenback due to gains in the
domestic equity market. However, all the gains were wiped out on
renewed trade war concerns between U.S. and China. The rise in crude
oil prices, too, had a negative impact on the Indian currency.
The euro edged up against the greenback, benefitting from the U.S.
President recent criticism on the global monetary policy, resulting in
currency manipulation.
Gold prices traded lower as greenback gained against the euro.
Brent Crude prices traded higher due to supply concerns after tensions
intensified between Iran and the U.S. Also, 24-hour strike by offshore
workers on three oil and gas platforms in the British North Sea added to
the gains.
A survey by IHS Markit and financial information provider Ipsos Mori
showed that British households' finance outlook turned positive for the
first time since Mar 2016. The seasonally adjusted Household Finance
Index, rose to 44.6 in Jul 2018 from 43.6 in Jun. Also, the index for
measuring the outlook for financial well-being over the next twelve
months grew to 51.3 in Jul from 48.2 in the previous month.
According to media reports, the People's Bank of China injected record
liquidity into the banking system via medium-term lending facility to
alleviate funding pressure. China’s central bank offered CNY 502 billion
of MLF with a maturity of 1 year. This was the biggest injection via MLF
since it was introduced in 2014.
Markets for You
Thank you for
your time.